Some reshuffling

Ok so I have about 1800 in my trading account and 1900 odd in my poker account, I have been able to generate a +ve cashflow of atleast $400pm from poker, and trying to increase that to atleast 700-800 by the end of the year. So obviously it seems poker>measly trading account.

I thus decided to close down my trading account for now and move the money into my poker accounts. I'll do that in 2 batches of $900 each.

Just finished a hand against an absolute donkey:

Full Tilt Poker Game #12113272302: Table Lord (heads up) - $0.25/$0.50 - No Limit Hold'em - 3:15:10 ET - 2009/05/09
Seat 1: ME ($91.50)
Seat 2: Cryandcatchme ($24.25)
ME posts the small blind of $0.25
Cryandcatchme posts the big blind of $0.50
The button is in seat #1
*** HOLE CARDS ***
Dealt to ME [Qs Ah]
ME calls $0.25
Cryandcatchme raises to $24.25, and is all in --> open shoved thrice in a row and i would hv snap clled with any A
ME calls $23.75
Cryandcatchme shows [Kd 7d]
ME shows [Qs Ah]
*** FLOP *** [8c 9s 4c]
*** TURN *** [8c 9s 4c] [4h]
*** RIVER *** [8c 9s 4c 4h] [2h]
Cryandcatchme shows a pair of Fours
ME shows a pair of Fours
ME wins the pot ($48) with a pair of Fours
Cryandcatchme stands up
*** SUMMARY ***
Total pot $48.50 | Rake $0.50
Board: [8c 9s 4c 4h 2h]
Seat 1: ME (small blind) showed [Qs Ah] and won ($48) with a pair of Fours
Seat 2: Cryandcatchme (big blind) showed [Kd 7d] and lost with a pair of Fours

He immediately quit after this hand, poker will be profitable as long as such donkeys are around !!

Portfolio update

I let go half off DGP (double long gold ETF) at a paltry profit, with the market rallying like it is gold is facing a tough time (almost an exact inverse correlation with the market right now).

On the brighter side Fidelity national finance FNF is up 5.5% today after they reported last night. Though their quarter was rough (0.06c EPS on an expectation range of -0.03 to 12c), they did say that business has picked up strongly towards the latter half of the quarter.

I also started a position in Allegiant Travel ALGT, with Priceline reporting today they might get a nice booster dose tomorrow.

I also dipped into my emergency fund and transferred $2000 to India to take advantage of the high interest fixed deposit scheme I talked about earlier, I'll probabaly do a 50-50 split (1/2 in the 12% FD with Tata Motors and 1/2 in a 9.75% FD with HDFC bank).

Profit taking

I took some profits today by selling ESI, ITT Educational Services, for a 10% gain in just about 5 days. I am holding onto my double long gold ETF DGP, waiting for the market to realize the implications (read hyper-inflation) of the monthly-trillion-dollar-printing-bonanza by the Feds.

For now it seems the market is super technical in nature, it is following Technical analysis to a T. And it would be really unwise to go against this current prevalent technical trend, atleast for now. But come earnings season (Apr 4th) HMMMM, that is when the cat comes out of the bag.

Disclaimer: Long DGP in trading account

Broad ETF trackers

For the layman/unsophisticated trader one quick way to gauge the market performance on a given day is by using the broad ETF trackers for each sector, kind of gives you a feel about which sectors of the market are performing (or not). Heres the list:

Consumer Staples : XLP
Consumer Discretionary :XLY
Energy : XLE
Financial : XLF
Healthcare:XLV
Industrial: XLI
Materials: XLB
Technology: XLK
Utilities: XLU

Out of the market

Got frisky and sold off AXYS (talked about yesterday here) at 40.xx, for a 10%+ish gain in 2 days. I think we will re-test the S&P 741 support today. Will it hold, will it break who knows?? Russian roulette .


Just to keep things in perspective here are the major support/resistances of the S&P in this bear market:

• 660: the low of the year,
• 741: 20 day moving average (right where we are now)
  
• 800: 50 day moving average

Well we also have a 1000+ number as the 200 day moving average for the S&P, but right now this is not even worth talking about.


Disclaimer: 100% cash, no positions in trading account